#1Acast Interim Report Jan-Jun 2023 3 Aug 2023 www.acast.com A#2Hello! We're Acast. A#3In The "Room" A Ross Adams CHIEF EXECUTIVE OFFICER Emily Villatte CHIEF FINANCIAL OFFICER & DEPUTY CEO 3 A#41 CEO Update#5Financial Highlights Q2-2023 22% NET SALES GROWTH 36% GROSS MARGIN -11% EBITDA MARGIN Margin improvement and strengthened results 5 A#6Acast's Business Strategy Is To Create the world's most valuable podcast marketplace PODCAST CREATORS VICE FT Perne THAT PETER CROUCH PODCAST BACKG Rod EO BBC NEWS The The New York Times Economist VAR 1.3Bn OFF HERU PBS Mi CFC UNQUALIFIED AKI TRAFFIC LISTENS / QTR 100,000+ SHOWS (1) Uniques defined as unique combination of IP address and Device Acast We're doing that by providing a world-class experience for podcasters, advertisers and listeners, creating robust revenue streams for both Acast and its stakeholders. PERFORMANCE BRIDGE ADVERTISERS & LISTENERS dentsu AECIS VERITONE. HAVAS MEDIA C IFG M accuen WPP VIVAKI K AD RESULTS amnet OXFORD. OmnicomMedia Group H.M Google TELE2 MISS MOTORS Microsoft LEGO EURO SPORT XAXIS BOSE 2,300 ADVERTISERS/ YEAR од ва ба ба 100M+ MONTHLY UNIQUES (¹) 6 A#7V 0.0. |||| Focus on automation creates value Self-serve ad platform continues to show good results Create sponsorship campaign Search Weekly spend $2500 Target market United States WTF MARC MARON Categories Lang Fre WTF Show information 56 Release frequency Gender % Male Categories Weekly price Weekly listens % Female Request booking Age 18-24 25-34 Add to list The largest podcast network to enable self-serve ad buying for sponsored reads 7 A#8DAN SNOW'S HISTORYHIT Focus on automation creates value Acast ACCESS media Bring the power of pioneer. podcasting to your subscription paywall A The Economist High Performance JAKE HUMPHREY DAMIAN HUGHES 8 A#9Al-driven podcast advertising gives increased reach Collections+ Podcast Sales Al from O Podchaser#10Higher Ground's podcast portfolio joins the Acast Creator Network A SPOTIFY ORIGINAL Resegades IN THE USA A SPOTIFY ORIGINAL MISERS THE MICHELLE OBAMA PODCAST A SPOTIFY ORIGINAL SHOW THE- BIG HITS 10 A 41.#11Strengthened relationships with largest podcasts 米 HH DAN SNOW'S HISTORYHIT The Economist High Performance JAKE HUMPHREY + PROF. DAMIAN HUGHES The Girls Bathroom A рРу PLA THE IRISH TIMES YOUNG TURKS Acast TYT EVERYTHING ICONIC WITH DANNY PELLEGRINO Pantsuit Politics A DIFFERENT APPROACH TO THE NEWS with Sarah Stewart Holland & Beth Silvers Forever 35 GIGGLY SQUAD DAILY BEAST Equity Mates INVESTING Acast @RNZ PENNY PEG 11 A#122 Financials#13Listens YoY ● Monetization of existing content continues to improve ● 1238 0,26 Q2-22 +4% 1294 0,30 Q2-23 Listens grew +4% compared to Q2-22 ARPL of 0.30 SEK grew +15% compared to Q2-22 (0.26 SEK) Efforts deployed to improve monetization of existing portfolio Listens (Millions) ARPL (SEK) Quarterly Listens 880 0,26 891 0,30 1091 0,31 Note: Number of listens based on Acast's IAB 2.0 certified measurement. A listen is defined as a minimum download of at least 60 seconds of the episode and Acast only count one listen per listener per episode within 24 hours. ARPL: Average Revenue Per Listen measured in SEK 1 256 0,24 1 238 0,26 1318 0,24 1327 0,34 Listens (Millions) ARPL (SEK) 1283 0,26 02-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Compared to prior quarters listens remained steady at 1.3Bn 1 294 0,30 Q2-23 13 A#14Net sales growth of 22% despite mixed ad market sentiment Net Sales YoY (SEKm) 316 . Q2 2022 +22% 386 Q2 2023 • Revenues grew by 22% in the quarter Organic growth was 15% in the quarter - FX +5% and Podchaser acquisition +2% contributions Quarterly Net Sales (SEKm) 130% 227 89% 265 336 40% 298 51% 316 39% 322 21% 454 35% Q2-21 Q3-21 Q4-21 Q1-22 02-22 Q3-22 Q4-22 • Revenue growth doubled in Q2-23 compared to Q1-23 331 11% Q1-23 Net Sales -YOY Growth 386 22% Q2-23 14 A#15Growth mainly driven by North America and Other Markets Net Sales (SEKm) 201 Q2-22 CBIT (SEKm) CBIT CBIT margin, % 35 17% Q2-22 Europe +17% 235 Q2-23 52 22% Q2-23 Europe delivered 17% net sales growth in Q2 despite the macroeconomic climate • Profit contribution margin (CBIT %) increased to 22% (1) CBIT refers to a local market or segment's operating profit before allocation of global costs Net Sales (SEKm) 85 CBIT CBIT margin, % Q2-22 CBIT (SEKm) -34% North America -29 Q2-22 31% 111 Q2-23 -11% -12 Q2-23 North America net sales grew by 31% • Profit contribution margin (CBIT %) improved to -11% Net Sales (SEKm) 30 CBIT CBIT margin, % Q2-22 CBIT (SEKm) -2% Other Markets -1 Q1-22 +35% 41 Q2-23 6% Q1-23 Other Markets delivered 35% net sales growth • Positive profit contribution in quarter 15 A#16Gross Profit (SEKm) Gross Profit -Gross Margin (%) 94 30% Q2 2022 Stable gross margin 137 36% Q2 2023 • The gross margin in the period was 36% The gross margin of 30% in Q2 2022 was impacted by one-off costs related to certain podcast contract Quarterly Gross Profit (SEKm) Gross Profit -Gross Margin (%) ● 37% 97 36% 123 36% 106 36% 94 30% 113 35% 157 35% 118 36% Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Non-ad / SaaS revenues now contribute over 10% of total sales (e.g. Podchaser) which supports the gross profit improvement. 137 36% Q2-23 16 A#17Other Operating Expenses (SEKm) ● ● 206 Year-on-year cost reductions Q2 2022 197 Q2 2023 Operating expenses decreased by -4% year on year overall Q222 costs do not include Podchaser operating expenses. In Q223 these costs were 9.5MSEK without which the cost reduction was -9% year on year Quarterly Other Operating Expenses (SEKm) ● 172 0 Q2-21 149 162 186 206 215 217 197 197 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Following the reduction of staff in Q3 and Q4 of 2022 there is ongoing focus on cost efficiencies Staffing has continued to reduce: Q123: 400 full time employees and consultants, Q223: 386 17 A#18Adj. EBITDA (SEKM) -31% -99 Q2 2022 Path to profitability remains on track -11% -42 Q2 2023 Adj. EBITDA -Adj. EBITDA margin % Adj. EBITDA improved to -42MSEK (-99MSEK) Adj. EBITDA Margin of -11% compared to -31% in the same quarter last year There are no adjustment items in the quarter and EBITDA equates to Adj. EBITDA Quarterly Adj. EBITDA (SEKm) וויון!!! -21% -47 -16% -42 Q2-21 Q3-21 -8% -28 -23% -68 -31% -23% -75 -7% -31 -98 Adj. EBITDA Adj. EBITDA margin % -18% Adj. EBITDA development is subject to usual seasonality The path to profitability remains on track for 2024 -61 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 -11% -42 Q2-23 18 A#19Cash flow from operating activities (SEKm) -98 Balance sheet remains strong Q2-22 -58 Q2-23 Cash flow from operating activities improved to -58MSEK (-98MSEK) Quarterly cash flow from operating activities (SEKm) . -64 -71 Q2-21 Q3-21 12 "||| -88 -98 -97 -12 -2 -58 Q4-21 Q1-22 Q2-22 Q3-22 04-22 Q1-23 Q2-23 The quarter saw a negative impact from working capital movements compared to the prior two quarters End Q1 Cash Balance: 801 MSEK 19 A#203 Upcoming Areas of Focus#21V Upcoming Areas of Focus Continued focus on US mill Driving scale and efficiency in ad sales 21 A#224 Q&A#23Follow us on Investors.acast.com/subscribe Acast.com/blog Shows.acast.com/acast-financial-reporting 26 A#24Acast For The Stories.#25Appendix Financial KPIs#26Group financial KPIs and alternative performance measures SEK thousand Net sales Net sales growth (%) Organic net sales growth (%) Gross profit Gross margin (%) EBITDA EBITDA margin (%) Adj. EBITDA* Adj. EBITDA margin (%)* Operating loss Operating margin (%) Adj. operating loss* Adj. operating margin (%)* Items affecting comparability* Loss for the period Cash flow from operating activities Basic and diluted earnings per share (SEK)*** Listens (millions) Average revenue per listen, ARPL (SEK) 2023 Apr-Jun 386,301 22% 15% 137,205 36% -41,666 -11% -41,666 -11% -59,328 -15% -59,328 -15% For definitions and purpose see note 9, and for reconciliations see note 10. -14,221 -57,542 -0.08 0.30 2022 Apr-Jun 315,826 39% 28% 94,003 30% -98,570 -31% -98,253 -31% -111,959 -35% -111,642 -35% 317 -70,635 -97,629 -0.40 1,238 0.26 2023 Jan-Jun 717,597 17% 11% 255,575 36% -102,382 -14% -102,382 -14% -137,349 -19% -137,349 -19% -86,231 -59,200 -0.48 2,577 *Q2 2022 adjusted for costs from the acquisition of Podchaser. Full year 2022 adjusted for costs from the acquisition of Podchaser and restructure costs. 0.28 2022 Jan-Jun 614,119 45% 34% 200,288 33% -166,401 -27% -166,084 -27% -192,022 -31% -191,705 -31% 317 -143,836 -185,262 -0.80 0.25 2022 Jan-Dec 1,390,366 36% 26% 469,856 34% -294,949 -21% -272,337 -20% -352,643 -25% -330,031 -24% 22,612 -286,375 -294,284 -1.59 0.27#27Acast For The Stories.